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What We’re Watching: Former Malaysian PM sentenced, Turkey backs down on sea plans, Europe quarantines Spain

Former Malaysian leader gets 12 years: A Malaysian court on Tuesday sentenced former prime minister Najib Razak to 12 years in prison for corruption related to the multibillion-dollar 1MDB state investment fund scandal, which brought down his government 2 years ago. According to the judge, Najib received more than $700 million out of the at least $4.5 billion that 1MDB looted from state coffers to pay for luxury hotels, yachts and even the Hollywood film "The Wolf of Wall Street." Although he was convicted of using part of the money to buy his wife a $27 million pink diamond necklace and to fund his political campaigns, the former PM insists he was duped by fugitive financier Jho Low and his partner Riza Aziz, Najib's stepson. So, what happens now? While the sentence is a permanent stain on his record, Najib is out on bail and will not go to jail until he exhausts the appeals process. Also, his political party returned to power in February and is now the biggest bloc in the current Malay nationalist alliance government, while Najib himself — who remains immensely popular among many ethnic Malays — is an elected MP and will only be disqualified if the conviction stands. The bottom line: whether or not (or even if) he ends up behind bars will test how serious Malaysia is about rooting out corruption.

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Historic EU COVID recovery fund deal; Turkey and Greece Aegean dispute

Ian Bremmer shares his insights on this week's World In (More Than) 60 Seconds:

How will the EU coronavirus recovery fund work and are there winners and losers?

How it's going to work? Hundreds of billions of euros being distributed between, its collective redistribution from wealthy countries to poor countries. And that money has been now unanimous agreement between all 27 members of the European Union. Not 28, the Brits are no longer a part of the table. And it's historic. It's by far the biggest political success that we've seen anywhere around the world in providing real multilateral leadership to help make it easier for those countries that are suffering the most. In the case of Europe, that means the poorer countries that don't have the ability to bail out their devastated economies. Again, you are seeing double digit contractions across Europe economically this year. Now you're seeing hundreds of billions of euros, half of that will be grants, don't need to pay back, half will be loans. That was a big part of the of the debate, of the controversy.

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What We're Watching: Despot faces justice, Saudi king ails, Greeks vs Turks

Day of reckoning for a dictator: Omar al-Bashir, once Sudan's strongman, is now living the nightmare. Like a Shakespearean king who has long known he'll pay the price of all usurpers, Bashir went on trial on Tuesday, along with alleged accomplices, for his role in the 1989 military coup that toppled an elected government and brought him to power. His 30-year reign was first jeopardized in 2018 by large protests against austerity measures imposed on his people. When a military crackdown only made the crowds larger, the army agreed to oust him in April 2019. If convicted, Bashir could be executed, though Sudan's new government — a council composed of both civilian and military officials — has promised that he'll also face genocide charges at the International Criminal Court over his role in the still-unresolved Darfur conflict that has killed hundreds of thousands since 2003. This trial marks the first time in the modern history of the Arab world that a leader has faced justice for a coup that brought him to power. The trial has been adjourned until August 11.

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A deal on the EU Recovery Fund? North Macedonia and the EU

Carl Bildt, former Prime Minister and Foreign Minister of Sweden, with the view from Europe:

Is it likely that there will be a deal on the EU Recovery Fund at the summit this weekend?

That remains to be seen. There's a huge amount that needs to be decided, both concerning the immensely big recovery fund and also the entire seven-year budget for the entire European Union. And there are significant divergences between views, so far. So, there might be a deal, but it might also be somewhat delayed. I'm quite certain at the end of the day there will be the deal.

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Quick Take: As global case rate rises, polarization hurts pandemic response

Ian Bremmer's Quick Take:

First of all, the exploding cases that we're seeing moving from Europe and at least many states in the United States (though certainly not all) towards the developing world is getting you an exploding overall case rate. We've now seen from the World Health Organization yesterday the largest single day tally since the pandemic has begun over 180,000 cases that we know of. Add to that much lower testing rates in the developing world than in the advanced industrial economies and you'll see that we are nowhere close to being on the backside of this first wave of coronavirus. But that doesn't mean that the poorest countries in the world are all a disaster.

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